Instal is our affordable entry-level credit builder account
Instal reports a $1,010 installment tradeline for just $28/month
How Instal Works
Your monthly commitment: $28
Activate your account today for just $15.
Starting next month, pay $28/month. Every payment builds credit history with all three credit bureaus.
After 48 months, you’ve established credit history and you get $1,010 back.
Instal provides you with a FICO® Score 8 monthly so you can track your progress.
90% to 95% of top U.S. lenders use FICO® Scores to make lending decisions
Frequently Asked Questions
Do I get the loan funds today?
No
Is there a hard or soft pull on my credit?
No
Is this a traditional personal loan?
No
Is the installment tradeline reported to Experian, Equifax, and TransUnion?
Yes
Can I pay off, pay down, or close my account early?
Yes
Additional Details
Interest rate
14.79%
APR (Annual Percentage Rate)
15.61%
Total amount of payments
$1,359
Cash back
$1,010
Total finance charge
$349
Real People. Real Results
No Credit?
Bad Credit?
No Problem
Whether you’re just starting your credit journey or in the process of rebuilding your credit, we are here for you.
Report to
all 3 bureaus
CreditStrong reports to Experian, Equifax, and TransUnion
Free FICO®
Score monthly
FICO® Scores are used by 90% of top lenders
No hard
credit pull
There is no hard credit pull when you open a CreditStrong credit builder account
You can
cancel anytime
You can cancel anytime with no penalty
Credit building and security
only a real bank can provide.
CreditStrong is part of an FDIC-insured bank, ensuring your money and personal information are safe and secured up to $250,000.
Instal Account Details
Want to know more?
Visit our support center to learn all about CreditStrong and how it could fit into your credit journey
Answers when you need them
Use the message icon to chat with our Virtual Assistant and get quick answers to common questions – 24/7
Connect with us
Our Austin-based support team is here Monday – Friday, 8AM – 5PM Central.
We’re closed for most federal holidays.
Ask our Virtual Assistant to transfer you to a team member, or give us a call at
833-850-0850
FAQ
FAQ
You will immediately have access to your CreditStrong dashboard. You will receive your first FICO Score 8 within two weeks of opening your account and see the date for your next score update.
Your first monthly payment will be due one month after you open your account.
Typically, your CreditStrong account will appear on your credit report 30-60 days after you make your first payment. Remember, the most important part of your credit building journey is to pay on time. Payment history makes up 35% of your FICO score, so it is important to avoid any late payments on your Instal account, or it may harm your credit score.
Note: We provide your payment information to the three major credit bureaus (Experian, Equifax, and TransUnion, but it can take them some time before they process the information and add the account to your credit report. Unfortunately, each credit bureau individually controls when your payment information will be processed and added to your credit report, and we are unable to expedite this process for you.
An installment credit builder account is a cash-secured credit builder loan where the loan funds are deposited in a deposit account in your name and locked to secure the loan.
You do not receive loan funds until the loan is paid off in full or closed. The loan funds secure the loan that is helping you build your credit.
You make monthly payments of principal and interest; the principal is returned to you when your account is closed — the interest is how we earn money to provide the service.
You may pay off, pay down, or close your account at any time with no penalty.
Yes, you may have up to six CreditStrong accounts
- Up to two Revolv accounts
- Up to two MAGNUM or Instal accounts
- Up to two CreditStrong Business accounts
To open multiple accounts, open your first account and successfully make the first payment and any account opening fees. A tile will appear in your dashboard, allowing you to apply for additional accounts.
If you previously had a CreditStrong account that is now closed, you can open another new account – subject to limitations if your previous account was flagged for suspicious or fraudulent activity.
We don’t hide
the small print.
We’re
proud of it.
1Average first-year FICO® Score 8 increase of +88 points for CreditStrong account users who signed up in 2024; who started with a score below 550; who had 12 successful monthly payments. Individual results may vary
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